Vancouver Area   Oct 12, 2018  (2-week update)

Current:  Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 7.6 %SOLD rate.   See each city for the full details.

Forecast: August's Real Estate Statistics shows 90% of Vancouver's Detached Markets decreased $26,380 in this last month and that compares to the COMPLETE OPPOSITE Market we saw in August 2015 when 90% increased by an average of $$23,833. Our August 2018 Drop demonstrates a continuous decline from $23,555 price drop we saw in July 2018. On Average, the Fraser Valley Market shows a $14,299 monthly price decrease. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are still forecasting a Buyer's Market across the Detached Markets for the following quarter.

Currently, the Condo Market continues to present a Cool Market with 90% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 86% of the Townhouse Markets are decreasing. (24 out of 28 Markets). Both Markets indicate a Buyer's "Watching and Waiting" behavior which was evident in the previous quarter. We are still forecasting a Buyers Market in all Condo/Townhouse Markets for the foreseeable future. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.

Fraser Valley & Chilliwack  Oct 12, 2018  (2-week update)

Current:  Fraser Valley and the Chilliwack areas over all are in a Stable Market averaging a 10.8 %SOLD rate.  See each city link for the full details

In the Vancouver area for the Month of Sept 2018, 33% of the Single Family Home Sold Listings reduced their List Price by the Average of $105,524. This compares to the Aug 2018, when 32% reduced their List Price by the Average of $140,608.
ote: the other Two Week Reports ( STR and MTI ) will be more accurate market indicators than this monthly report after the middle of each month.)

In the Fraser Valley-Chilliwack area, for the Month of Sept 2018, 33% of the Single Family Home Sold Listings reduced their List Price by the average of $41,487. This compares to the Aug 2018 when 38% reduced their List Price by the average of $34,826

Now do compare the %SOLD and the MTI rates to the year 2016!

Now do compare the %SOLD and the MTI rates to the year 2015!

Now do compare the %SOLD and the MTI rates to the year 2014!

Now do compare the %SOLD and the MTI rates to the year 2013!

Now do compare the %SOLD and the MTI rates to the year 2012!   Now do compare the %SOLD and the MTI rates to the year 2011!

Did Vancouver Real Estate Really go up 31% in the last year? 

                                                                             True or False?

Year to Date Real Estate Price Changes
 

Single Family Homes Top 50%   See all Markets

Here on the first Graph the Year to Date Price Changes for the Top 50% Single Family Housing Market comparing all cities in the Greater Vancouver areas is up an AVERAGE 

Now compare this to the Condo  Markets   (Lower 50%)  See all Markets

Yes the Lower 50% of the Condo Market some cities actually went Down on Average.

Do notice that only a few cities even beat our expected 2% Canada Consumer Annual Inflation Rate.

Are Condos a good investment?     When will they go up?

Low End Condos attract very little foreign investment. This Market is considered mostly a Job Driven Market!

The Condo market will recover and increase when Demand Increases  eg: when we have stronger employment with good paying jobs. More Tim Horton jobs will not create many more home buyers.

The Condo Market is so easy to Over Supply with the many new high rises currently being developed this year.  Single Family Lots ...in other words "DIRT" will continue to be the the one true investment that can rarely be over supplied.

See all Markets